Technical analysis – US 30 index losing steam, cautiously negative bias in place
Posted on May 4, 2018 at 1:21 pm GMTThe US 30 index has been losing steam recently. It was rejected from its 100-day moving average (MA) on April 18 and has edged lower since, finding support near the 23,520 zone on May 3, and subsequently rebounding to close the day just above its 200-day moving average. A cautiously negative picture is also supported by the index’s short-term oscillators. The RSI is currently below 50, detecting negative momentum, and is also pointing to the downside. The MACD, already negative, [..]